Our debt now is 40% of GNP and compared to Great Britain, where it is 110%, or Greece, where it is 140% we seem to be in a much better position to weather the storm. There is a grain of truth to what he says however; if for instance, the standard currency for trading commodities was not the American dollar, or other countries or investors in other countries had doubts about our abilities to service the debt, it would be in a very different situation.